Health Insurance

Insurance fraud occurs when either an insurance holder consciously tries to obtain benefits or advantages to which they are not have the right or when an insurance provider knowingly denies any due benefit to a policyholder or the beneficiary. It has been a known fact that auto insurance and health insurance are the two fields where most of the fraud cases occur. However, another section that is soon catching up is disability insurance.

The key health insurance problems arising out of a global downturn may have been actually caused due to a number of factors concerning both the consumers and market leaders. A careful study of these problems will certainly help us identify their possible solutions. Some of the major health insurance problems are explained below- High Prices The cost of health insurance is way too high and it continues to rise amidst the global downturn.

Under the global economic crisis, some Americans have lost their jobs and many others stand uninsured as their Cobra coverage has expired. These Americans have been forced to go uninsured since the individual comprehensive health care is too expensive for them. These Americans are bearing the risk of sharing huge medical debt in the long run. Medical debt is a major financial problem across America and one of the major reasons why so many Americans file for bankruptcy.

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The most happening time for all companies across the globe seems to be the time to apply for Open enrollment health insurance. It is more so, if the company has hundreds of employees.

Health insurance is becoming increasingly expensive day by day and more individuals are refraining from health insurance.

The Obama government has evoked fear in the hearts of private insurance companies with an improved Medicare plan. This federal government provided health plan is supposed to be so strong that it might wipe out the private insurers. Employees in America are provided a choice between Medicare and health insurance by most employers.

Smoking increases your insurance cost !! If you stop smoking you can save on your insurance cost. Here are some ways you can adopt to control your smoking habit and save on your insurance cost:

• Psychological Therapy
• Water Therapy
• Nicotine Anonymous
• Nicotine Patches
• Nicotine Nasal Sprays & Nicotine Inhalers
• Stop Smoking Pills
• Nicotine Gum
• Nicotine Replacement Therapy

So stop smoking as fast as possible

It has been estimated that cigarette smoking counts to $5 per packet . If you smoke 1 packet of cigarette every day, then your expenses would be around $1825 per year. Researchers have estimated that there are several other hidden costs that counts to smoking. And all those together increases the insurance cost to around $167 billion per year. They say about 20 to 50 percent smoke for some sort of satisfaction. They depend on that puff to bring out the best of them in their work. People who perform creative work, like artists, etc are fragile and sensitive.

They say

“Health insurance reform needs to focus on the health, not the insurance”